Many banks around the globe are not very crypto-friendly. Most of them simply refuse any company that has something to do with cryptocurrencies, whether you are a trading company or doing an ICO. These banks rather stay away from cryptocurrencies, being afraid of criminal activities such as money laundering.
Although you could argue that the entire point of a crypto startup is not to have a bank account, almost always you still need a bank account, for example, to pay your taxes or your employees. The question then arises, where in the world should you go to if you want to open a bank account as a crypto startup? Which country has the most crypto-friendly banks and which countries should you avoid? Fortunately, some of the smaller banks are open to servicing crypto companies, and they see a lot of opportunities. Here is an overview of where to go in Europe:
Banking in The Netherlands is difficult if you are a crypto startup. Most of the big banks in The Netherlands refuse to do business with cryptocurrency startups. The main reasons are that the market is still unregulated, the money flow not transparent, and the risks too high. The only banks …